European Parliament committees approve 50 billion euros for Ukraine
EU's €50 billion aid to Ukraine was approved by European Parliament committees (Getty Images)
European Parliament committees have backed the Ukraine Facility financial support program for Ukraine, allocating a whopping 50 billion euros, according to the European Parliament and MEP Viola von Cramon.
"Key budgetary support for Ukraine has been approved by three parliamentary committees," tweeted the European Parliament.
The Ukraine Facility will provide a total of 50 billion euros in grants, loans, and guarantees, demonstrating the EU's commitment to supporting Ukraine with whatever it needs.
MEP Viola von Cramon confirmed the decision, emphasizing the unanimous support from the foreign affairs committee of the European Parliament.
"We just approved Ukraine Facility, a €50 Billion financial aid for the years to come. On the next week's plenary in Strasbourg, the whole Parliament will once again stand together in solidarity with," she added on X.
The EU's €50 billion aid to Ukraine was approved by European Parliament committees (twitter.com/ViolavonCramon)
50 billion euros for Ukraine from the EU
In June 2023, the European Commission proposed a special mechanism for Ukraine, offering grants and loans totaling up to 50 billion euros until 2027. This mechanism aims to replace the current EU support to Ukraine through the Macro-Financial Assistance Program, which expired at the end of 2023.
On February 1, at a summit of European Union leaders, a unanimous decision was made to allocate 50 billion euros to Ukraine under the Ukraine Facility program. On the same day, President Volodymyr Zelenskyy thanked EU leaders for creating the 50 billion euro fund for Ukraine, stressing that financial support is as crucial as military aid and sanctions pressure on Russia.
On February 14, ambassadors from the 27 European Union countries met and agreed on the legal texts necessary to launch the EU's 50 billion euro support package for Ukraine.
